Economic growth puts district in strong position

25/01/2019 3:00 p.m.

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​​Friday 25 January, 2019

Positive trends
in the Ashburton District’s economy during the year to September 2018 quarter signals
the district is in a healthy position, and that’s good news for locals and
potential newcomers to the area, Ashburton Mayor Donna Favel says.

The Infometrics
Quarterly Economic Review Monitor’s latest report shows that between the end of
June and September last year, Ashburton’s economy grew 2.3 per cent (totaling
$1,971 million), a significant improvement on the 1.1 per cent growth
experienced in the same period in 2017.

“Things are
looking good for our district. Our GDP is growing, many of our primary sector
industries have had excellent returns on their exports, and retail spend is up
$7 million on the same period the year before. Like any region, we aren’t
immune to challenges, but this data indicates we’re in a pretty good position
to face those hurdles as they come,” Mayor Favel said.

The report
showed that retail trade in the district is expanding strongly, with a 6.1 per
cent increase, totaling $90 million.

“One of the
Council’s key projects is to help revitalise the Ashburton Central Business
District. We want to see more people coming into town and supporting local
businesses, and this positive growth in retail spend confirms the importance of
this commitment,” explained Mayor Favel. “We want this growth to continue.”

Although dairy
prices have come under pressure, the report showed other sections of the primary
sector having enjoyed bumper returns, including forestry, meat and
horticultural products, which all experienced 10 – 20 per cent higher export
prices than a year ago.

Tourism
expenditure was also up, with 8.9 per cent growth; a trend on par with the rest
of the country.

“As a community, we are a resilient and
connected lot, and I have always admired the way we get in and make things happen
for the benefit of others. I am pleased to see our economic profile is also in
a positive place. It certainly adds to our appeal as the district of choice for
lifestyle and opportunity,” Mayor Favel added.

The Infometrics Quarterly Economic Review
Monitor is part of a suite of economic profile resources that the Ashburton
District Council has made freely available on its website. Users can also
access an annual economic profile and a community profile that outlines
socio-economic indicators, including population, migration, wellbeing,
transport, skills and cultural diversity.

To see the Infometrics data, including the
latest quarterly economic review, visit the Council website​. ​